Investor Ab Class A · OMXSTO:INVE_A
Investor Ab Class A — Q3 2026 Earnings Presentation
33 slides from Investor Ab Class A's earnings presentation, October 2026
Slide 1: Interim Management Statement January - September 2026
Interim Management Statement January - September 2026
Slide 2: Christian Cederholm, President and CEO
Christian Cederholm President and Chief Executive Officer
Slide 3: Q3 in summary
Q3 in summary Adjusted net asset value growth Total shareholder return 4% 1% (SIXRX return index 2%) Listed Companies Patricia Industries Investments in EQT • ABB expands Industrial Automation • Mölnlycke to separate into two companies • Several initiatives to grow the platform offering 1% total ret
Slide 4: Business areas: total adjusted assets and adjusted net asset value
Business areas Total adjusted assets Adjusted net asset value SEK 1,282bn September 30, 2026 SEK 1,258bn Listed Companies Patricia Industries Investments in EQT SEK 949 bn SEK 242 bn SEK 95 bn 74 % of total assets 19% of total assets 7% of total assets 4
Slide 5: Listed Companies
investor Listed Companies
Slide 6: Highlights during the quarter - Listed Companies
Listed Companies Highlights during the quarter • Total return 1% • ABB strengthens position within industrial automation through USD 5.5bn acquisition of Rotork • Ericsson highlights leadership in developing new AI - enabled network applications beyond connectivity • Announced departures of Sobi CEO
Slide 7: Patricia Industries
investor Patricia Industries
Slide 8: Highlights during the quarter - Patricia Industries
Patricia Industries Highlights during the quarter • Total return 15% • Major subsidiaries ’ reported sales growth 12%, of which 7% organically in constant currency • Adjusted EBITA grew 26 % - strong performance, tailwind from add - ons and currency impact • Mölnlycke intends to separate into two co
Slide 9: Intention to separate Mölnlycke into two companies
Intention to separate Mölnlycke into two companies Mölnlycke Mölnlycke Surgical 9
Slide 10: Patricia Industries – Sales and EBITDA
Patricia Industries – Sales and EBITDA LTM Sales LTM EBITDA SEK 72.8bn SEK 19.0 bn SEK m 6,000 25,000 5,000 20,000 4,000 15,000 3,000 10,000 2,000 5,000 1,000 0 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 16 16 16 17
Slide 11: Investments in EQT
investor Investments INEQT
Slide 12: Highlights during the quarter - Investments in EQT
Investments in EQT Highlights during the quarter • Total return 7% – EQT AB total return 5% – EQT funds and co - investments 9% • Net cash flow to Investor SEK - 0.7 bn – SEK - 0.7bn net cash flow from fund investments • Acquisition of Coller C apital completed, building strong platform in secondari
Slide 13: A strong platform
A strong platform Clear purpose and focused strategy High - quality portfolio Proven and engaged ownership model Financial flexibility Great people, at Investor and in the companies 13
Slide 14: Jenny Ashman Haquinius, Chief Financial Officer
Jenny Ashman Haquinius Chief Financial Officer
Slide 15: Grow net asset value
Grow net asset value Adjusted net asset value, September 30, 2026 SEK 1,258bn 1,400 1,200 1,000 800 600 400 200 0 - 200 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Listed Companies Patricia Industries Investments in EQT Other assets & liabilities Net debt 15
Slide 16: Total return by business area
Total return by business area Q3 2026 YTD 2026 15% 21% 17% 16% 7% 4% 1% - 9% Listed Companies Patricia Industries Investments in EQT Total Listed Companies Patricia Industries Investments in EQT Total 16
Slide 17: Listed Companies
investor Listed Companies
Slide 18: Listed Companies – Total return
Listed Companies – Total return Q3 2026 % 22% 21% 20% 7% 5% SIXRX 2% Total 1% 1% 4% 8% 9% 10% 13% 13% 16% Saab SEB Nasdaq Electrolux Atlas Copco Epiroc Sobi Husqvarna ABB AstraZeneca Ericsson Wärtsilä Electrolux Professional 18
Slide 19: Listed Companies – NAV contribution
Listed Companies – NAV contribution Q3 2026 SEK bn 18 18 9 8 0 0 -1 -1 -2 -5 -5 -9 - 26 Saab SEB Nasdaq Atlas Copco Electrolux Husqvarna Epiroc Electrolux Sobi Ericsson Wärtsilä AstraZeneca ABB Professional 19
Slide 20: Patricia Industries
investor Patricia Industries
Slide 21: Operating performance – Major subsidiaries
Operating performance – Major subsidiaries Q3 2026 YTD 2026 26% 13% 12% 6% 4% 7% Reported sales growth Organic sales growth Adjusted EBITA growth Reported sales growth Organic sales growth Adjusted EBITA growth 21
Slide 22: Patricia Industries – Operating performance
Patricia Industries – Operating performance Org. growth, % Q3 2026 EBITA margin, % Q3 2026 EBITA margin, Change pp Value, SEK bn Vectura 41 76.8 1) 3.6 1) 4.6 Nova Biomedical 14 31.4 4.8 40.1 Laborie 13 35.4 3.1 36.9 BraunAbility 10 10.7 - 2.0 11.2 Sarnova 8 17.4 1.1 25.0 Mölnlycke 5 28.9 2.6 84.7 P
Slide 23: Activities during the quarter
Activities during the quarter Share of sales last 12 months 600 35% 500 30% Antiseptics 25% 400 Gloves 20% Operating Room 300 15% Solutions 200 Wound Care 10% 100 5% 0 0% Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Sal
Slide 24: Patricia Industries – Major drivers of estimated market values
Patricia Industries – Major drivers of estimated market Average multiple 15.6x Total EV/total EBITDA, Patricia Industries major subsidiaries 15% + Multiples + Earnings + Currency 256bn SEK 225bn SEK 223bn 222bn Q2 2026 Q3 2026 24
Slide 25: Patricia Industries – Change in estimated market values
Patricia Industries – Change in estimated market values Distribution to Patricia Industries of SEK 550m 678 625 229 122 107 90 172 256 191 6 091 1 013 6 661 8 701 Equity contribution from 9 465 Patricia Industries of SEK 500m 222 237 Q2 2026 Mölnlycke Nova Laborie Sarnova Piab Permobil Vectura Tre A
Slide 26: Investments in EQT
investor Investments in EQT
Slide 27: Investments in EQT – Performance
Investments in EQT – Performance Reported value change, % Net cash flow to Investor, SEK m Q3 2026 Q3 2026 9% 837 7% 0 5% - 663 - 1,500 EQT AB Fund investments Total Investments Proceeds Dividend from EQT AB Net cash flow 27
Slide 28: Investments in EQT – Net cash flow to Investor
Investments in EQT – Net cash flow to Investor Average net cash flow to Investor, 10 years Outstanding commitments, September 30, 2026 SEK 1.5bn SEK 27.9bn 8 Net cash flow to Investor, LTM Dividend from EQT AB 6 Proceeds Investments 4 2 0 -2 -4 -6 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 28
Slide 29: Strong financial flexibility
Strong financial flexibility
Slide 30: Leverage within the target range
Leverage the target range Leverage S&P Moody’s 1.8 % AA - Aa 2 25% Maximum leverage 20% 15% Leverage target range 10% 5% 0% Q4 21 Q4 22 Q4 23 Q4 24 Q4 25 Leverage 30
Slide 31: Shareholder returns
Shareholder returns Average annual total return September 30, 2026 50% 40% 30% 20% 10% Return requirement 0% YTD 2026 1 year 5 years 10 years 20 years Adjusted NAV Investor B SIXRX 31
Slide 32: We create value for people and society by building strong and sustainable businesses
We create value for people and society by building strong and sustainable businesses
Slide 33: Financial calendar
Financial calendar November 4, 2026 Capital Markets Update Jacob Lund January 22, 2027 Year - End Report 2026 Chief Communications & Sustainability Officer +46 725 60 21 57 Jacob.lund@investorab.com April 20, 2027 Interim Management Statement January - March 2027 July 16, 2027 Interim Report Magnus